News & Analysis as of

Intent to Defraud

Cozen O'Connor

FTC Secures Judgment Against Companies for Allegedly Defrauding Consumers in Credit Card Laundering Scheme

Cozen O'Connor on

The FTC settled with Legion Media, LLC, KP Commerce, LLC, and Sloan Health Products, LLC and related individuals and entities to resolve allegations over unauthorized billing schemes for sales of CBD and keto products in...more

Morrison & Foerster LLP - Social Media

Social Links: July 2024

In a rare example of bipartisan agreement, the dramatically named DEFIANCE (Disrupt Explicit Forged Images and Non-Consensual Edits) Act unanimously passed the Senate. The bill allows victims of AI-generated deepfake...more

Houston Harbaugh, P.C.

Ryanair Wins Jury Verdict Against Booking.Com Per the Computer Fraud and Abuse Act (CFAA)

Ryanair recently prevailed in a jury trial in Delaware Federal District Court when the jury determined that Booking.Com B.V. violated the U.S. Computer Fraud and Abuse Act (CFAA) by engaging in "screen scraping" of data...more

Alston & Bird

U.S. Court Rules Against Online Travel Booking Company in Web-Scraping Case

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On July 18, 2024, a federal jury in Delaware found that an online travel booking company violated the Computer Fraud and Abuse Act (CFAA) by accessing portions of a European airline’s website without permission and “with...more

Bradley Arant Boult Cummings LLP

Ciminelli One Year Later: The Evolving Reach of the Wire Fraud Statute

The federal wire fraud statute, 18 U.S.C. § 1343, is one of the commonly used statutes in federal white-collar criminal cases. In our digital age, nearly any significant fraud or scheme could probably be charged as a wire...more

Cozen O'Connor

New York AG Secures Record $2 Billion Settlement in Crypto Case

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New York AG Letitia James secured a $2 billion settlement with Genesis Global Capital, LLC, and related entities (collectively, “Genesis”), to resolve allegations that the bankrupt cryptocurrency firms defrauded investors,...more

White & Case LLP

“Novel” or Not: the SEC and DOJ’s Expansion of Insider Trading to “Shadow Trading” and 10b5-1 Plans Survive Their Days in Court

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On April 5, 2024, the U.S. Securities and Exchange Commission ("SEC") won a jury verdict in its first "shadow trading" insider trading action. Only a few weeks before this verdict, a court denied a motion to dismiss a...more

Husch Blackwell LLP

Arizona Physician Pleads Guilty to Healthcare Fraud over Improper “Incident To” Billings

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“Incident to” billing is widely practiced, and its regulations are generally well-known. But one Arizona physician recently found himself pleading guilty in federal court on April 3, 2024, to a criminal healthcare fraud...more

Farrell Fritz, P.C.

Can a Shareholder Suing Derivatively Face Countersuit Individually?

Farrell Fritz, P.C. on

That was the interesting, infrequently-litigated question addressed in a recent decision by Manhattan Commercial Division Justice Melissa A. Crane. Simon v FrancInvest, S.A. (2023 NY Slip Op 32422[U] [Sup Ct, NY County...more

Warner Norcross + Judd

Supreme Court Resolves Circuit Split and Holds that Wire Fraud Requires Deprivation of Traditional Property Interest

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In Ciminelli v. United States, the United States Supreme Court resolved a decades-long circuit split and clarified that to be guilty of federal wire fraud, prosecutors must prove that the defendant’s scheme to defraud...more

Wiley Rein LLP

[Podcast] Charging George Santos: Analyzing the U.S. Department of Justice’s Indictment of the Congressman

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Congressman George Santos was elected to the House of Representatives in November 2022, representing New York’s Third Congressional District. On May 10, 2023 he was arraigned in Federal District Court in Long Island, NY on a...more

Wyrick Robbins Yates & Ponton LLP

Combatting Seller Impersonation Fraud with Respect to Vacant, Unencumbered Land

The Emergence of Seller Impersonation Fraud - Recent reports from various title companies and other leaders in the real estate industry show that across the United States, systematic fraudulent schemes involving...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for January 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Freeman Law

Fraudulent Transfers | Burdens of Proof

Freeman Law on

So this is the fifth and final installment of my five-part series on fraudulent transfers. In previous blogs, I laid out the basic statutory framework regarding fraudulent transfers, as well as described generally the...more

King & Spalding

Fraudulent Transfer Claims Against Investors Survive Motions to Dismiss

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On October 12, 2022, the U.S. Bankruptcy Court for the Southern District of New York denied motions to dismiss fraudulent transfer claims asserted against certain investors in Tops Holding II Corporation. In 2007, a group of...more

Cozen O'Connor

Former CEO of Crypto Platform Celsius Sued by AG James for Allegedly Defrauding Investors

Cozen O'Connor on

New York AG Letitia James filed a lawsuit against Alex Mashinsky, a co-founder and former CEO of Celsius Network LLC, for violating the Martin Act and New York’s Executive and General Business Laws by allegedly defrauding...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - December 2022

Lowenstein Sandler LLP on

Importer Pays $3.25M Settlement in FCA Case A California importer paid $3.25 million (Law360 subscription required to view) to settle a whistleblower suit brought by a former employee of its overseas supplier under the False...more

Proskauer - New Media & Technology

District Court Decision Brings New Life to CFAA to Combat Unwanted Scraping

On October 24, 2022, a Delaware district court held that certain claims under the Computer Fraud and Abuse Act (CFAA) relating to the controversial practice of web scraping were sufficient to survive the defendant’s motion to...more

Conyers

The Law on Illegality in the British Virgin Islands: The BVI’s take on Patel v Mirza 2016 UKSC 42

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“…the law on illegality is not entirely clear in this jurisdiction.” This was the position expressed by BVI Commercial Court Judge, Justice Adrian Jack in his judgments of 17 June 2021 and 15 February 2022 in Briefline...more

Wiley Rein LLP

Warranty Letter Bars Coverage for Claim Against Chief Legal Officer Arising From CEO’s Alleged Fraud

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The United States District Court for the District of Nevada, applying Nevada law, has held that a warranty letter executed by the insured’s CEO prior to the issuance of an excess D&O policy barred coverage for a claim made...more

Oberheiden P.C.

False Claims Act Penalties and Defense Strategies

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The federal False Claims Act (FCA) penalizes anyone who knowingly makes a fraudulent claim for compensation to the federal government. The penalties can be severe, frequently rising into the millions of dollars and...more

McGlinchey Stafford

Kentucky and Virginia Enact Student Education Loan Servicing Laws

McGlinchey Stafford on

Kentucky and Virginia have passed legislation relating to student loan servicers. In Kentucky, a new student loan servicing law creates new licensing and compliance requirements. In Virginia, an amendment limits the scope of...more

Mayer Brown Free Writings + Perspectives

SEC's ESG Task Force Brings 1st Case Against Brazilian Mining Co., Alleging Material Misstatements About Dam Safety

On April 28, 2022, the U.S. Securities and Exchange Commission (SEC) charged Vale S.A. (Vale), a publicly traded Brazilian mining company and one of the world’s largest iron ore producers, with making false and misleading...more

Cadwalader, Wickersham & Taft LLP

ESG Enforcement Watch: SEC Files Fraud Complaint against Brazilian Miner, Vale, over False Safety Claims prior to Environmental...

Summary - In an important development, on April 28, 2022, the Securities and Exchange Commission (SEC) commenced an action in the United States District Court for the Eastern District of New York in which it asserted that...more

Stinson - Corporate & Securities Law Blog

SEC Charges Brazilian Mining Company with Misleading Investors about Safety Prior to Deadly Dam Collapse

The SEC charged Vale S.A., a publicly traded Brazilian mining company and one of the world’s largest iron ore producers, with making false and misleading claims about the safety of its dams prior to the January 2019 collapse...more

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